When the supply curve and the demand curve for a single product or service are shown on the same graph,the point at which the curves intersect identifies the ________.

Question

Quizplus · Accepted Answer

The point of intersection between the supply and demand curve identifies the market price of the good or service. This is where the quantity supplied equals the quantity demanded, resulting in an equilibrium price. The other options are not directly related to the intersection point of the supply and demand curves.

When the Supply Curve and the Demand Curve for a Single